Tokio Marine Asset Management Co. Ltd. Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Tokio Marine Asset Management Co. Ltd. raised its position in shares of Nucor Co. (NYSE:NUE) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,092 shares of the basic materials company’s stock after buying an additional 665 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Nucor were worth $1,066,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its holdings in Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the third quarter valued at approximately $26,000. Brown Lisle Cummings Inc. bought a new position in shares of Nucor during the third quarter valued at approximately $30,000. Salomon & Ludwin LLC lifted its stake in Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NUE. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Up 0.5 %

Shares of Nucor stock opened at $147.08 on Friday. The company has a 50-day simple moving average of $148.72 and a two-hundred day simple moving average of $155.16. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock has a market capitalization of $34.54 billion, a PE ratio of 14.21 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the business posted $4.57 EPS. The company’s revenue was down 15.2% compared to the same quarter last year. On average, analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.